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Wiki Selling TSLA Options - Be the House

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2 weeks in a row NVDA verticals have put me in trouble,

Last week I had to close early and closed at a loss, and then it expired worthless
this Week, Fri, it breached +660 and I forgot I had a position and then over weekend I got assigned -100 NVDA and now it is up to $681 in pre-market ... :( (I need to have my eyes checked)
Option 1 close position with loss,
Option 2, buy like 690,700 call and see if this thing goes down ... 🤔

Every loss on the being the house and selling insurance requires weeks of gains in order to mitigate it using same approach ...
 
2 weeks in a row NVDA verticals have put me in trouble,

Last week I had to close early and closed at a loss, and then it expired worthless
this Week, Fri, it breached 260 and I forgot I had a position and then over weekend I got assigned -100 NVDA and now it is up to $281 in pre-market ... :( (I need to have my eyes checked)

Every loss on the being the house and selling insurance requires weeks of gains in order to mitigate it using same approach ...
That's a 6 at the beginning 😮‍💨
 
I like the idea of keeping this the OPTIONS trading forum, but dread the confusion of the many inevitable ambiguous posts not specifying which - NVDA or TSLA they are referencing.
I favor including NVDA here, just hoping we’ll say if our posts are about NVDA or TSLA.

And, yes, I am a but a simple man, easily confused and oft baffled by much that I see.
 
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QTA levels for today

1707144785977.png



2/9

1707144670207.png



2/16

1707144695015.png



1707144730527.png
 
  • Informative
Reactions: SpeedyEddy
Can you say more like what levels are you watching?
How are you playing it?
I’m not deploying any serious $$ till $16x, there is a lot of buyer interest from VWAP, history and currently now in the $160-165 range. I still think we’re going to get into $15x in the next six weeks now (when I previously posted that target it was for Q1’24, now we’re 1/3 through Q1). The $148 TA level is a target, but in my opinion not a destination. Once we get clearly into ~ $165 there will be a LOT of buyers of all stripes and sizes, and I think that will provide stability for time and facts to turn positive.

We HAD a wall built at $180 by market participants, but now that’s pretty much gone and I think the same gang is trying to build ANOTHER wall ~ $160.

I know that’s not what anyone wants to hear, but well there it is.

I was short the 12x 2/24 $205 covered calls @ ~ $5.5, but have bought them back for 95% win at this point, that’s enough for now.